Auto Financing or Leasing Ronkonkoma NY

Learning the differences between auto financing and leasing will help you decide which option is best for you. Read this article and know more.

Local Companies

Bohemia Auto Center Inc
(631) 738-7018
4173 Veterans Memorial Hw
Ronkonkoma, NY
Swat Auto Repair Shop
(212) 582-2925
612 W 47th St
New York, NY
Monte's Car Svce Inc
(718) 258-2880
1319 E 17th St
Brooklyn, NY
Golden Le Blangs
(212) 986-5811
412 Lexington Ave
New York, NY
Kingsdale Car Service
(718) 796-2222
1 Riverdale Ave
Brooklyn, NY
A & E Auto Repair
(631) 471-1549
1743 Julia Goldbach Ave
Ronkonkoma, NY
Yonkers Auto Repair
(914) 623-7066
193 S Broadway
Yonkers, NY
New Laconia Radio Dispatcher Inc
(718) 798-2222
3934 Laconia Ave
Bronx, NY
Yonkers Honda Corp
(914) 961-9212
1980 Central Park Ave
Yonkers, NY
Hamburg School Car Service
(716) 649-8048
3080 Amsdell Rd
Hamburg, NY

Provided by:

It's like buying a new pair of shoes. Everyone has an opinion on the topic, but the best advice is to scope out which is the right fit for you.

Ownership

Leasing: You do not own the vehicle. You get to use it but you have to return it when your lease ends. If your lease vehicle has a purchase option, you may be able to purchase your vehicle during the term of the lease or at lease end.

Buying: You own the vehicle and you get to keep it when you pay off the amount owed under the financing contract.

Up-front costs

Leasing: The money you pay before you take possession of the car may include the first month's payment, a refundable security deposit, a capitalized cost reduction (like a down payment), taxes, registration and other fees, and other charges.

Buying: Up-front costs include the cash price or a down payment (if you finance), taxes, registration and other fees, and other charges.

Monthly payments

Leasing: When you lease a car, you are paying only for the vehicle's depreciation during the lease term plus rent charges (like interest), taxes, and fees and charges that may be owed during the lease. This usually makes monthly lease payments lower than monthly loan or other finance contract payments.

Buying: When you finance your purchase, you are paying for the entire purchase price of the vehicle, plus interest and other finance charges, taxes, and fees. This means that you're probably going to end up spending more on a finance monthly payment than on a lease monthly payment.


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